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Howard Lutnick: “India basically has to open their market, has to stop buying…”

Featuring: Howard Lutnick, Secretary of Commerce | National

Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick

Published September 11, 2025 | Video Starts at 05:05

Which ones are you most focused on right now? Well, we have. We're going to sort out India. You know, India basically has to open their market, has to stop buying Russian oil. You know, people don't remember India didn't buy Russian oil before the war with Russia and Ukraine. They had.1% of their oil was from Russia. (05:05–05:11)

CLAIM

Asserts that India needs to open its market and stop buying Russian oil.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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Howard Lutnick

“India didn't buy Russian oil before the war with Russia and Ukraine. They had .1% of their oil was from Russia.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 05:12-05:21
“Now 40% of their oil is from Russia because we've sanctioned it.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 05:20-05:25
“Japan, who is never really going to open their market... gave us $550 billion to invest for the benefit of America.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 06:31-06:57
“Tariffs are bringing in 40 billion a month, reducing our deficit.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 07:29-07:34
“Factories being built in America at a scale that you have never seen before. 10, more than $10 trillion of factory build coming.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 08:13-08:24
“The Biden administration gave Intel 11 billion.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 24:07-24:11
“The company's over $350 million. So they'll raise, you know, 12 million or more today.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 01:28-01:35
“We've got a big deal coming with Taiwan, will probably get a deal done with Switzerland.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 05:42-05:48
“South Korea, we made a deal, but let's see if they come through with the paperwork.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 05:54-06:00
“Japan came through with the paperwork.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 05:59-06:03
“Europe, 450 million people, $20 trillion economy, agreeing we were completely open to America.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 06:15-06:23
“First quarter of next year will be the best quarter of construction jobs this country's ever seen.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 08:27-08:33
“You're going to see GDP growth next year over 4%.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 08:35-08:40
“If Harvard settles with Donald Trump, you know what he's going to do with the $500 million? He's going to have Harvard build vocational…”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 11:42-11:49
“We're going to have the greatest workforce training in the history of America as we train these 5 million people.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 12:53-13:01
“The Japanese signed the contract. The Koreans either accept that deal or pay the tariffs.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 13:35-13:41
“We want to invest $100 billion in finally unleash the American oil and natural gas that we have in Alaska.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 14:51-14:58
“The President green lights it. We, we hire the construction people and we send a capital call to the Japanese.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 14:59-15:08
“When they get their 550 billion, you know, the United States of America only made $550 billion and then after that it's 9010 in favor of…”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 15:22-15:34
“Their taxpayers are not going to lose any money because what we promised them is these are going to be national and economic security…”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 15:47-15:55
“We're not borrowing any money. They're going to borrow the money at their grand 1% interest rate.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 16:09-16:15
“We don't have any debt at all. They send us the money.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 16:18-16:19
“10% tariffs or less are paid by the manufacturers, the distributors, the businesses. The consumer doesn't pay.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 17:30-17:41
“The president likes TikTok. You know, he, he did well communicating with young people through TikTok.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 20:24-20:32
“The President knows if we're going to have [TikTok] here, that's got to go.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 21:02-21:08
“The ability to deal with foreign relations [should be] in the hands of the President, who is elected by all of us.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 21:41-21:53
“The model of taking [Fannie Mae and Freddie Mac] public, I think has a lot of merit and the President really likes that and supports it.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 22:10-22:19
“The President wants rates lower. He wants homeownership to be more affordable.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 22:55-23:00
“I think we're going to take the company public. I think we're going to sell. It'll probably. It could potentially be the largest IPO in…”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 23:26-23:35
“They're not going to build more chips in America for that 11 billion.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 24:28-24:32
“They settled on 15% [for Nvidia chip sales in China].”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 25:43-25:45
“Donald Trump is a real businessman, and he's doing it rationally and reasonably.”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 26:07-26:12
“Nippon Steel, promised 12 things. And once they buy the company, how are you going to enforce those 12 things?”
Watch CNBC's full interview with U.S. Commerce Secretary Howard Lutnick | Uploaded September 11, 2025 | 26:19-26:27